The Maharashtra government has released a sum of Rs 4,000 crore under the first phase of the over Rs 34,000 crore farm loan waiver scheme.

Out of Rs 4,000 crore which has been released under Phase 1, Rs 3,200 crore will be for writing off the loans of 4.62 lakh farmers. The remaining Rs 800 crore will be in the form of incentive for 3.78 lakh farmers who are paying their loans on time.

The release of funds under the scheme, announced in June, will be a continuous process, by November 15, 75-80 per cent of the disbursement will be completed.